[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
India’s commercial real estate (CRE) market has grown in strength in the past decade or so.
Robust occupier interest, the rise of organised real estate developers, and the entry of
institutional capital have acted as catalysts for the growth in CRE. Strong interest from
sectors such as technology, banking, financial services, research, and consulting coupled
with operators providing flexible space resulted in a sustained annual growth in office
absorption. In 2019, gross office space absorption crossed the 60 million sq ft mark for the
first time ever and touched a historic high of 63.5 million sq ft, registering a growth of almost
30 percent compared to 2018. Office stock across seven leading cities crossed 640 million
sq ft and it is expected to cross 660 million sq. ft. by the end of this year.
Most occupiers either plan to or have already established collaborative technology platforms,
like providing video-conferencing tools or improving VPN, to accommodate remote working
during the coronavirus pandemic. Occupiers are likely to emphasise on employee safety and
business continuity. They will take up short-term measures to adhere to social distancing
norms, such as those prescribed by the World Health Organization, while commencing
operations. These measures will include phased reopening, rotational workforce, sanitation,
and plotting commuting routes in offices. Occupiers are likely to adhere to government
regulations on social distancing, using a reduced workforce as operations commence in a
Read more at: https://www.business-standard.com/article/economy-policy/the-office-stays-how-commercial-real-estate-will-survive-covid-19-crisis-120061100432_1.html
Have a nice day